Real estate is the safest kind of investment. Neither can it be lost nor stolen and it can be sold for good money. This applies in particular to the current market. A decline in the Euro and a rise in the US Dollar mean that there has never been a safer time for Americans to invest in luxury real estate in France.
In January, a US Dollar that had already been performing well reached an 11-year high against most other major currencies. As the Eurozone continues to falter, with talk of a “triple dip recession” on the horizon amid a stagnating continental economy, the contrasts with a continually improving US economy have never been more apparent. Savvy American investors with an already burgeoning interest in European property will be eagerly watching events unfold ‘across the pond’.
During the past 10 years, the largest gap between the US Dollar and the Euro was $1/€0.628 in April 2008. Compare that to January 2015 when rates were at $1/€0.861 and the US Dollar has increased in value by 37.1%. Even when compared with the exchange rates of last year the results are impressive for American buyers. From last May alone, the Dollar has experienced an increase in value of 19.9%.
Compared with the most popular destinations worldwide among American foreign property seekers, Europe is the most attractive for investment currently. Between Europe, Australia, Canada and Japan, the Euro has seen the most positive change in the past year, particularly in the luxury real estate industry. Whereas a villa estimated at €1,000,000 would have cost $1,300,000 in September, it now costs $1,160,000, an increase of more than 10% in purchasing power.
Entry fees, transportation costs and other expenses are likewise cheaper than last year, making 2015 an attractive time for Americans to invest in overseas luxury real estate. Luxury French Riviera real estate expert and CEO of Carlton International, Philip Weiser urged Americans to seriously consider purchasing real estate on the Côte d’Azur saying “make the leap and plan for your dream property abroad while exchange rates remain favourable”.
Whether you are seeking a luxury villa in St tropez, or a grand estate in Cannes, Carlton International can aid you in your search. Please visit the Carlton International website today for further information.